Adicet Bio (NASDAQ:ACET) Major Shareholder Ra Capital Management, L.P. Acquires 74,577 Shares

Key Points

• Ra Capital Management bought multiple blocks of Adicet Bio shares Feb 18–20 (74,577 at $7.04; 74,268 at $7.21; 74,751 at $7.27), totaling about 223,596 shares for roughly $1.60M, and after the Feb 18 trade owned 1,033,605 shares (a 7.78% increase valued at about $7.28M).
• Adicet's stock was trading near $6.35 with a market cap of ~$61M and negative earnings (P/E -0.35), yet analysts hold a consensus "Moderate Buy" with an average target price of $56.25, while institutional ownership sits at 83.89%.

Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) major shareholder Ra Capital Management, L.P. purchased 74,577 shares of the business's stock in a transaction that occurred on Wednesday, February 18th. The stock was bought at an average cost of $7.04 per share, for a total transaction of $525,022.08. Following the acquisition, the insider owned 1,033,605 shares in the company, valued at approximately $7,276,579.20. The trade was a 7.78% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

Ra Capital Management, L.P. also recently made the following trade(s):

• On Friday, February 20th, Ra Capital Management, L.P. purchased 74,751 shares of Adicet Bio stock. The stock was bought at an average cost of $7.27 per share, for a total transaction of $543,439.77.
• On Thursday, February 19th, Ra Capital Management, L.P. purchased 74,268 shares of Adicet Bio stock. The stock was bought at an average cost of $7.21 per share, for a total transaction of $535,472.28.

Adicet Bio Price Performance

Shares of NASDAQ ACET traded down $0.41 during mid-day trading on Monday, hitting $6.35. The company had a trading volume of 197,799 shares, compared to its average volume of 159,737. The stock has a market cap of $60.96 million, a price-to-earnings ratio of -0.35 and a beta of 1.57. Adicet Bio, Inc. has a 12 month low of $6.01 and a 12 month high of $17.44. The firm's 50 day simple moving average is $7.05 and its two-hundred day simple moving average is $9.24.

Adicet Bio (NASDAQ:ACET - Get Free Report) last announced its earnings results on Thursday, March 12th. The company reported ($2.94) earnings per share for the quarter, beating the consensus estimate of ($3.23) by $0.29. Equities analysts forecast that Adicet Bio, Inc. will post -1.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ACET has been the topic of several recent analyst reports. Guggenheim cut their target price on Adicet Bio from $128.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, March 13th. Truist Financial raised Adicet Bio to a "strong-buy" rating in a research note on Wednesday, March 25th. HC Wainwright cut their target price on Adicet Bio from $50.00 to $27.00 and set a "buy" rating on the stock in a research note on Monday, March 23rd. Canaccord Genuity Group set a $18.00 target price on Adicet Bio and gave the company a "buy" rating in a research note on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Adicet Bio in a research note on Tuesday, January 27th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $56.25.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ACET. FNY Investment Advisers LLC bought a new stake in Adicet Bio in the fourth quarter worth about $51,000. Maven Securities LTD acquired a new stake in Adicet Bio in the 4th quarter valued at about $263,000. Susquehanna International Group LLP bought a new position in shares of Adicet Bio during the 3rd quarter valued at about $33,000. Squarepoint Ops LLC bought a new position in shares of Adicet Bio during the 3rd quarter valued at about $38,000. Finally, Luminus Management LLC acquired a new position in shares of Adicet Bio in the 4th quarter worth approximately $501,000. Institutional investors own 83.89% of the company's stock.

About Adicet Bio

Adicet Bio, Inc NASDAQ: ACET is a clinical‐stage biotechnology company specializing in the development of off‐the‐shelf, allogeneic gamma delta (γδ) T cell therapies for oncology and autoimmune disorders. The company's proprietary platform enables the genetic engineering of γδ T cells with chimeric antigen receptors (CARs) and other molecular modifications to enhance tumor targeting, expansion, and persistence. By leveraging the innate tumor-recognition properties of γδ T cells, Adicet seeks to overcome the manufacturing and safety challenges associated with autologous cell therapies.

Adicet's lead product candidate, ADI-001, is a CAR‐engineered allogeneic γδ T cell therapy directed against CD20 for the treatment of relapsed or refractory B-cell malignancies.

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